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A freshly-amended 13D filing with the US Securities and Exchange Commission showed that Jeffrey Smith‘s Starboard Value LP has increased its stake in Marvell Technology Group Ltd (NASDAQ:MRVL), and that it currently holds 33.72 million shares, which represent 6.6% of the float. Starboard Value’s stake was raised from 20.4 million shares the fund previously owned, according to its last 13F filing (for the end of June).

Marvel Technology Group is a company that produces communications, storage, and semiconductor products. Year-to-date, the company’s stock is up by 42.52%. For the second quarter of fiscal 2017, the company reported earnings per share of $0.18, above the estimates of $0.11, and revenue of $626 million, below the estimates of $630 million.

Moreover, there has been a lot of analysts activity on Marvel Technology Group’s stock lately. Among them, B. Riley has reaffirmed its ‘Buy’ rating on the stock, with a price target of $16, while Oppenheimer has reiterated its ‘Market Perform’ rating and MKM Partners reiterated its ‘Neutral’ rating on the stock.

The number of hedge funds from Insider Monkey’s database long Marvell Technology Group (NASDAQ:MRVL) increased by 7 recently, and at the end of June, 38 investors were bullish on the stock. Those investors included Richard Barrera’s Roystone Capital Partners, with a position valued at $42.75 million, Jim Simons’ Renaissance Technologies, which held a position worth around $17.39 million, Ken Hahn’s Quentec Asset Management, Paul Marshall And Ian Wace’s Marshall Wace LLP, and Benjamin A. Smith’s Laurion Capital Management.

Among the new investors in Marvell Technology Group (NASDAQ:MRVL) during the June quarter, were Curtis Macnguyen’s Ivory Capital (Investment Mgmt), which acquired a position worth around $76.9 million, Didric Cederholm’s Lion Point, which had $19.06 million invested in the company, Spencer M. Waxman’s Shannon River Fund Management, Leon Shaulov’s Maplelane Capital, and Manoneet Singh’s Kavi Asset Management.

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.

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1 The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).